FOUNDATION FOR PUERTO RICO INC: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- FOUNDATION FOR PUERTO RICO INC (EIN 66-0776227)
- Tax period
- 2016-01-01 to 2016-12-31
- Filed
- 2018-01-16
- IRS object ID
- 201840169349300219
- Schema version
- 2016v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2018-01-16T10:34:51-04:00 | ReturnTs |
| Tax Period End | 2016-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO PUERTO RICO PSC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 363436 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009363436 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 660776227 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FOUNDATION FOR PUERTO RICO INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FOUN | BusinessNameControlTxt |
| Phone | 7877731100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 364029 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009364029 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAMARIS OCASIO | PersonNm |
| Person Title | ASIST. TREASURER/SEC | PersonTitleTxt |
| Phone | 7877731100 | PhoneNum |
| Signature | 2018-01-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | PATRICIA WANGEN | PreparerPersonNm |
| PTIN | P01438194 | PTIN |
| Phone | 7877543999 | PhoneNum |
| Preparation | 2018-01-16 | PreparationDt |
Filing Security Information FilingSecurityInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| At Submission Creation Device Id | 05EB8D8F2BAD8FD20A2F312A98F7BF3010A062A2 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 05EB8D8F2BAD8FD20A2F312A98F7BF3010A062A2 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JONATHAN BORSCHOW | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 364029 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009364029 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,881,987 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.FOUNDATIONFORPUERTORICO.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2011 | FormationYr |
| Legal Domicile State | PR | LegalDomicileStateCd |
| Activity Or Mission | FOUNDATION FOR PR (FPR) WORKS WITH A DEFINED PLAN TO DEVELOP PUERTO RICO'S SOCIAL AND ECONOMIC POTENTIAL AND TRANSFORM IT INTO AN IMPORTANT COMPETITOR IN THE WORLD. FPR DO THIS BY PROMOTING THE VISITOR ECONOMY AND EXPORT OF THE 21ST CENTURY AS CENTRAL TO ECONOMIC DEVELOPMENT; SUPPORTING INNOVATION IN EVERY SECTOR; CONTRIBUTING TO STRENGTHEN AND DEVELOP THE ORGANIZATIONS THAT MAKE UP OUR SOCIETY; AND DRIVING THE TALENT HERE TO RECOGNIZE ITS POTENTIAL. THE MISSION IS TRANSFORM PR INTO A DESTINATION FOR THE WORLD BY DRIVING SUSTAINABLE STRATEGIES OF ECONOMIC AND SOCIAL DEVELOPMENT. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 14 | TotalEmployeeCnt |
| Total Volunteers | 111 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $2,037,934 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,818,423 | CYContributionsGrantsAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $752 | PYInvestmentIncomeAmt |
| CY Investment Income | $491 | CYInvestmentIncomeAmt |
| PY Other Revenue | $44,643 | PYOtherRevenueAmt |
| CY Other Revenue | $63,073 | CYOtherRevenueAmt |
| PY Total Revenue | $2,083,329 | PYTotalRevenueAmt |
| CY Total Revenue | $1,881,987 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $188,664 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $199,278 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $879,802 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $875,923 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,035,135 | PYOtherExpensesAmt |
| CY Other Expenses | $572,413 | CYOtherExpensesAmt |
| PY Total Expenses | $2,103,601 | PYTotalExpensesAmt |
| CY Total Expenses | $1,647,614 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$20,272 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $234,373 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,008,923 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,170,342 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $934,441 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $861,487 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,074,482 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $1,308,855 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE MAIN OBJECTIVE OF THE ORGANIZATION IS TO PROMOTE STRATEGIC PHILANTHROPY AS CATALYST TO ACCELERATE THE ECONOMIC, SOCIAL, AND SUSTAINABLE DEVELOPMENT IN PUERTO RICO BY COMMISSIONING HIGHLY FOCUSED RESEARCH, OFFERING EXPERT COUNSEL AND CONDUCTING EDUCATIONAL ACTIVITIES THAT WILL ADVANCE THE PHILANTHROPIC INITIATIVES AND PROGRAMS TO BE SUPPORTED BY THE ORGANIZATION. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $359,009 | ExpenseAmt |
| Grant | $41,442 | GrantAmt |
| Desc | MOBILIZING FOR TRANSFORMATION - LAUNCH ECONOMIC STRATEGIES. ENCOURAGE PEOPLE TO ASSUME THEIR ROLE AS CITIZENS OF THE WORLD. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $479,343 | ExpenseAmt |
| Desc | PURSUING GLOBAL MARKETS - PROMOTE THE INSERTION OF PUERTO RICO IN THE GLOBAL ECONOMY. DRIVE THE INNOVATION, KNOWLEDGE, AND VISITOR ECONOMY. SUPPORT ORGANIZATIONS THAT HELP STRENGTHEN THE ENTREPRENEURIAL ECOSYSTEM. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $400,296 | ExpenseAmt |
| Grant | $157,836 | GrantAmt |
| Desc | SCALING-UP FOR INNOVATON - SUPPORT AND COLLABORATE TO BUILD THE CAPACITY OF ORGANIZATIONS SO THEY MAY: THINK OUT OF THE BOX, BECOME COMPETITIVE, AND TAKE ADVANTAGE OF GLOBAL OPPORTUNITIES. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $198,305 | ExpenseAmt |
| Desc | DEVELOPMENT EXPENSES FOR PROGRAM SERVICES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $198,305 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $1,436,953 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (true) | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (true) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 14 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | PR | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DAMARIS OCASIO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7877731100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 364029 | AddressLine1Txt |
| City | SAN JUAN | CityNm |
| State Abbreviation | PR | StateAbbreviationCd |
| ZIP | 009364029 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JONATHAN BORSCHOW | |||||||
| CHAIRMAN | 30.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| LIZZIE ROSSO | |||||||
| VICE CHAIRMA | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| GREGORY KAUFMAN | |||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DAMARIS OCASIO | |||||||
| ASIST. TREAS | 35.00 | Yes (X) | $0 | $0 | $0 | ||
| MARIA JAUNARENA | |||||||
| DIRECTOR OF | 40.00 | $136,030 | $0 | $0 | Yes (X) | ||
| YINET OCASIO | |||||||
| DIRECTOR HUM | 40.00 | $131,253 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $267,283 | TotalReportableCompFromOrgAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Fundraising | $96,210 | FundraisingAmt |
| All Other Contributions | $1,722,213 | AllOtherContributionsAmt |
| Total Contributions | $1,818,423 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $491 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $491 | RelatedOrExemptFuncIncomeAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $63,073 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $63,073 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $63,073 | TotalRevenueColumnAmt |
| Exclusion | $63,073 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $96,210 | ContriRptFundraisingEventAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,881,987 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $491 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $63,073 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $199,278 | TotalAmt |
| Program Services | $199,278 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $875,923 | TotalAmt |
| Program Services | $770,793 | ProgramServicesAmt |
| Management And General | $105,130 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $572 | TotalAmt |
| Management And General | $572 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,458 | TotalAmt |
| Management And General | $14,458 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $150,728 | TotalAmt |
| Program Services | $100,485 | ProgramServicesAmt |
| Management And General | $50,243 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,453 | TotalAmt |
| Program Services | $53,916 | ProgramServicesAmt |
| Management And General | $9,537 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,871 | TotalAmt |
| Program Services | $2,820 | ProgramServicesAmt |
| Management And General | $51 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $923 | TotalAmt |
| Program Services | $923 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $191,008 | TotalAmt |
| Program Services | $184,376 | ProgramServicesAmt |
| Management And General | $6,632 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,800 | TotalAmt |
| Management And General | $1,800 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| RENTAL EXPENSE | $74,657 | $58,867 | $15,790 |
| IN-KIND VOLUNTEER WORK | $45,034 | $41,227 | $3,807 |
| INTERNSHIP EXPENSE | $14,554 | $14,270 | $284 |
| MEALS & ACTIVITIES | $12,355 | $9,998 | $2,357 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,647,614 | TotalAmt |
| Program Services | $1,436,953 | ProgramServicesAmt |
| Management And General | $210,661 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $215,004 | BOYAmt |
| EOY | $295,228 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $95,827 | BOYAmt |
| EOY | $367,329 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,000 | BOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,889,148 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $381,363 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,693,092 | BOYAmt |
| EOY | $1,507,785 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,008,923 | BOYAmt |
| EOY | $2,170,342 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $79,441 | BOYAmt |
| EOY | $101,487 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $855,000 | BOYAmt |
| EOY | $760,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $934,441 | BOYAmt |
| EOY | $861,487 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,051,870 | BOYAmt |
| EOY | $1,305,255 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,612 | BOYAmt |
| EOY | $3,600 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,074,482 | BOYAmt |
| EOY | $1,308,855 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,008,923 | BOYAmt |
| EOY | $2,170,342 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $234,373 | ReconcilationRevenueExpnssAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $200,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $119,221 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $130,208 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $234,160 | CurrentTaxYearAmt |
| Total | $683,589 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $200,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $119,221 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $130,208 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $234,160 | CurrentTaxYearAmt |
| Total | $683,589 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $683,589 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $59,369 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $119,736 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $45,394 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $63,920 | CurrentTaxYearAmt |
| Total | $288,419 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $43,643 | CurrentTaxYearMinus1YearAmt |
| Total | $43,643 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $1,015,651 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $491 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.67310 | PublicSupportCY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,381,016 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $276,203 | DepreciationAmt |
| Book Value | $1,104,813 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $250,522 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $59,556 | DepreciationAmt |
| Book Value | $190,966 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $257,610 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $45,604 | DepreciationAmt |
| Book Value | $212,006 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,507,785 | TotalBookValueLandBuildingsAmt |
| Total Rev Etc Audited Fincl Stmt | $1,881,987 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $1,881,987 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $1,881,987 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,647,614 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $1,647,614 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $1,647,614 | TotalExpensesPerForm990Amt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | GOLF TOURNAMENT | Event1Nm |
| Gross Receipts Event1 | $44,970 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $44,970 | CharitableContriEvent1Amt |
| Event2 | 5TH ANNIVERSARY | Event2Nm |
| Gross Receipts Event2 | $44,090 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $44,090 | CharitableContriEvent2Amt |
| Other Events Total | 1 | OtherEventsTotalCnt |
| Gross Receipts Other Events | $7,150 | GrossReceiptsOtherEventsAmt |
| Charitable Contri Other Events | $7,150 | CharitableContriOtherEventsAmt |
| Gross Receipts Total | $96,210 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $96,210 | CharitableContributionsTotAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | false | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (9 entries)
| Business Name Line2RecipientBusinessName/BusinessNameLine2Txt | Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|---|---|---|
| ABRE PR | ||||||||||
| 709 CALLE ESTADO | 709 CALLE ESTADO APT 1 | SAN JUAN | PR | 00907 | 660791661 | $10,260 | BOOK | OFFICE | SHARE SPACES | |
| CENTRO PARA EMPRENDEDORES | ||||||||||
| ALTURAS DE SAN JUAN | SAN JUAN | PR | 00926 | 660783031 | $12,960 | BOOK | OFFICE | SHARE SPACES | CAMINO LOS PIZZARO APT 452 | |
| COMPROMETIDOS | ||||||||||
| 1511 AVE PONCE DE LEON CIUDADELA | SAN JUAN | PR | 00909 | 660780024 | $36,888 | BOOK | OFFICE | SHARE SPACES | ||
| INVERSION CULTURAL | ||||||||||
| PO BOX 930552 | SAN JUAN | PR | 00928 | 660712740 | $36,888 | BOOK | OFFICE | SHARE SPACES | ||
| JUNTOS POR PR | ||||||||||
| PO BOX 50653 | TOA BAJA | PR | 00950 | 660841445 | $10,260 | BOOK | OFFICE | SHARE SPACES | ||
| MUSEO DE ARTE CONTEMPORANEO | ||||||||||
| PO BOX 362377 | SAN JUAN | PR | 009362377 | 660420190 | $11,000 | BOOK | DONATION | INTEGRATIVE PROGRAM | ||
| SALON LITERARIO LIBROAMERICA | ||||||||||
| CENTRO DE ESTUDIOS AVANZADOS | SAN SEBASTIAN | PR | 00901 | 660710826 | $23,220 | BOOK | OFFICE | SHARE SPACES | CALLE CRISTO ESQ | |
| VISIT RICO | ||||||||||
| CALLE GUAYAMA 556 HATO REY | SAN JUAN | PR | 00918 | 660831665 | $27,360 | BOOK | OFFICE | SHARE SPACES | ||
| COMPROMETIDOS | ||||||||||
| 1511 AVE PONCE DE LEON CIUDADELA | SAN JUAN | PR | 00909 | 660780024 | $30,442 | BOOK | DONATION | COLLABORATIVE PROG. | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Org | 9 | TotalOtherOrgCnt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JALKA REALTY | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | CHAIRMAN | RelationshipDescriptionTxt |
| Transaction | $60,000 | TransactionAmt |
| Transaction | PROFESSIONAL SERVICE | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | THE MAIN OBJECTIVE OF THE ORGANIZATION IS TO PROMOTE STRATEGIC PHILANTHROPY AS CATALYST TO ACCELERATE THE ECONOMIC, SOCIAL, AND SUSTAINABLE DEVELOPMENT IN PUERTO RICO BY COMMISSIONING HIGHLY FOCUSED RESEARCH, OFFERING EXPERT COUNSEL AND CONDUCTING EDUCATIONAL ACTIVITIES THAT WILL ADVANCE THE PHILANTHROPIC INITIATIVES AND PROGRAMS TO BE SUPPORTED BY THE ORGANIZATION. |
| FORM 990, PAGE 2, PART III, LINE 4D | DEVELOPMENT EXPENSES FOR PROGRAM SERVICES. |
| FORM 990, PAGE 5, PART V, LINE 3B | ACCORDING TO 26 U.S. CODE 512(B)3, ALL RENTS FROM REAL PROPERY ARE EXLUDED. |
| FORM 990, PAGE 6, PART VI, LINE 6 | FORM 990, PART VI, SECTION A, LINE 6 - 1.JON BORSCHOW, 2.MILTON CRUZ, 3.RAMON MELLADO, 4.SILA M. CALDERN, 5.GREGORY KAUFMAN, 6.LIZZIE ROSSO, 7.LUIS ALBERTO FERR RANGEL, 8.RICARDO ALVAREZ-DIAZ 9.JUAN ANTONIO RAMOS, 10. IGNACIO CANTO |
| FORM 990, PAGE 6, PART VI, LINE 7A | FORM 990, PART VI, SECTION A, LINE 6 - 1.JON BORSCHOW, 2.MILTON CRUZ, 3.RAMON MELLADO, 4.SILA M. CALDERN, 5.GREGORY KAUFMAN, 6.LIZZIE ROSSO, 7.LUIS ALBERTO FERR RANGEL, 8.RICARDO ALVAREZ-DIAZ 9.JUAN ANTONIO RAMOS, 10. IGNACIO CANTO |
| FORM 990, PAGE 6, PART VI, LINE 11B | ORGANIZATION'S PROCESS TO REVIEW FORM 990 PRIOR TO FILING OF FORM 990, MS. DAMARIS OCASIO, CHIEF OPERATING OFFICER, WILL REVIEW A DRAFT OF THE FORM. COMMENTS OR CHANGES SUGGESTED WILL BE APPLIED IN ORDER FOR THE ENTITY TO SUBMIT THE FORMTO THE INTERNAL REVENUE SERVICE FOR FILING. |
| FORM 990, PAGE 6, PART VI, LINE 12C | FORM 990, PART VI, SECTION B, LINE 12C - EACH DIRECTOR SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THE POLICY. DUTY TO DISCLOSE- IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON (ANY MEMBER, DIRECTOR OR OFFICER WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST) MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OF DIRECTORS OR COMMITTEE MEETING. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS- AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIALFACTS AND AFTER ANY PRESENTATION BY AND DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON SHALL LEAVE, THE BOARD OF DIRECTORS OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AN VOTED UPON. THE REMAINING DIRECTORS OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST- THE CHAIRMAN OF THE BOARD OF DIRECTORS OR CHAIRPERSON OF THE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE WHETHER THE FOUNDATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OF DIRECTORS OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS OR COMMITTEE MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENTS IS IN THE FOUNDATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO A TRANSACTION OR ARRANGEMENT. VIOLATION OF THE CONFLICT OF INTEREST POLICY- IF THE BOARD OF DIRECTORS OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER, DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM SUCH MEMBER, DIRECTOR OR OFFICER OF THE BASIS FOR SUCH BELIEF AND AFFORD SUCH MEMBER, DIRECTOR OR OFFICER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S, DIRECTOR'S OR OFFICER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS OR COMMITTEE DETERMINED THE MEMBER, DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| FORM 990, PAGE 6, PART VI, LINE 19 | FORM 990, PART VI, SECTION C, LINE 19 - NO DOCUMENTS AVAILABLE TO THE PUBLIC. |
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